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05 September 2017

Prudential Short Duration High Yield Fund, Inc., and Prudential Global Short Duration High Yield Fund, Inc., appoint new directors

PGIM News Release

NEWARK, N.J., Sept. 5, 2017 –
Prudential Short Duration High Yield Fund, Inc. (NYSE: ISD) and Prudential Global Short Duration High Yield Fund, Inc. (NYSE: GHY) announce the appointment of Barry H. Evans and Laurie Simon Hodrick to their board of directors.
 
“We look forward to the insight and expertise Mr. Evans and Ms. Hodrick will offer on behalf of our shareholders, as we help investors meet the ongoing challenges of generating income and investment returns in the current low-yield environment,” said Stuart Parker, CEO and president of PGIM Investments.
 
Evans, who has three decades of investments and business management experience, oversaw $169 billion in assets before retiring as president of Manulife Asset Management US. In addition to serving as president, Evans also served as global chief operating officer, and earlier was chief investment officer and global head of fixed income at Manulife. He also served as global head of asset allocation for the company’s portfolio solutions group. Evans has been on nearly a dozen corporate boards, providing oversight on such functions as audit, compensation, risk, investments, valuation and derivatives. He is a former chairman of the board of Manulife Asset Management US and former chairman of Declaration Investment Management & Research.
 
Hodrick, who brings almost 30 years of experience as a finance academic, practitioner, and consultant, is the A. Barton Hepburn Professor of Economics in the Faculty of Business at Columbia Business School and the founding director of its Program for Financial Studies. She is also a visiting professor of law and a Rock Center for Corporate Governance fellow at the Stanford Law School, along with a visiting fellow at the Hoover Institution. Hodrick is well-known for her groundbreaking research on corporate cash holdings and capital allocations, including share repurchases and dividends, takeovers, and equity offerings. She is an independent director for Corporate Capital Trust and served as a director for Merrill Lynch Investment Managers Funds. She was previously a managing director and global head of alternative investment strategies at Deutsche Bank.
 
“We are delighted to have Mr. Evans and Ms. Hodrick join our board of directors after a robust search process. They will add to the expertise and diversity of the existing board that will prove invaluable in our governance of PGIM Investments’ family of Prudential funds,” said board Chairman Keith Hartstein.
 
About PGIM Investments
PGIM Investments offers more than 95 mutual funds across a broad spectrum of asset classes and investment styles, including 73 funds domiciled in the U.S. and 24 funds domiciled in Ireland. Ireland funds cannot be purchased by U.S. Investors.

Clients can also choose from a variety of investment vehicles such as closed-end funds, managed accounts, and target date funds such as the Prudential Day One Mutual Fund series. All products draw on PGIM’s globally diversified investment platform that encompasses the expertise of managers across fixed income, equities and real estate.
 
About PGIM and Prudential Financial, Inc.
With 14 consecutive years of positive third-party institutional net flows, PGIM, the global asset management businesses of Prudential Financial, Inc. (NYSE: PRU), ranks among the top 10 largest asset managers in the world with more than $1 trillion in assets under management as of June 30, 2017. PGIM’s businesses offer a range of investment solutions for retail and institutional investors around the world across a broad range of asset classes, including fundamental equity, quantitative equity, public fixed income, private fixed income, real estate and commercial mortgages. Its businesses have offices in 16 countries across five continents. For more information, please visit pgim.com.
 
Prudential’s additional businesses offer a variety of products and services, including life insurance, annuities and retirement-related services. For more information about Prudential, please visit news.prudential.com.

PGIM

MEDIA CONTACT:  Judi Flynn / 973-802-9939 / judith.flynn@prudential.com


 
Each Fund is a diversified, closed-end management investment company managed by PGIM Investments LLC and sub-advised by PGIM Fixed Income, a business unit of PGIM, Inc., and an affiliate of the investment manager.
 
An investment in closed-end fund’s common stock may be speculative in that it involves a high degree of risk, should not constitute a complete investment program, and may result in loss of principal. Each closed-end fund will have its own unique investment strategy, risks, charges and expenses that need to be considered before investing.
 
These materials are for informational or educational purposes only. The information is not intended as investment advice and is not a recommendation about managing or investing assets. In providing these materials PGIM Investments is not acting as your fiduciary as defined by the Department of Labor.
 
Please consult with a qualified investment professional if you wish to obtain investment advice.
 
The Fund invests in high yield (“junk”) bonds, which are subject to greater credit and market risks; derivative securities, which may carry market, credit, and liquidity risks; foreign securities, which are subject to currency fluctuation and political uncertainty; and emerging markets securities, which are subject to greater volatility and price declines. Fixed income investments are subject to interest rate risk, where their value will decline as interest rates rise. There are fees and expenses involved with investing in the Fund. Diversification does not assure a profit or protect against a loss in declining markets. There is no guarantee that dividends or distributions will be paid.
 
PGIM Fixed Income is a unit of PGIM, Inc., which is a registered investment advisor and Prudential Financial company. © 2017 Prudential Financial, Inc. and its related entities. PGIM and the PGIM logo are service marks of Prudential Financial, Inc. and its related entities, registered in many jurisdictions worldwide.
 
Investment products are not insured by the FDIC or any federal government agency, may lose value, and are not a deposit of or guaranteed by any bank or any bank affiliate.
 
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